Four members of the monetary policy committee voted to cut rates by 25 bps, while one voted for a 50 bps cut and one voted for leaving rates unchanged.
In its June review meet, the MPC had held the repo rate citing the risk of fiscal slippages, which could entail inflationary spillovers.
Food prices have been coming down, bringing inflation rates in India to new lows in recent months.
"Excluding the HRA impact which will affect the CPI cumulatively, inflation would be a little over 4 per cent by fourth quarter as against 4.5 per cent inclusive of the HRA in the June statement (of RBI policy)", Patel said. "Given our expectation of both growth and inflation rising over the next six to 12 months, we expect a prolonged pause from the RBI", Nomura said.
The repo rate - the rate at which the central bank lends to commercial banks - now stands at 6.0 percent - a 6½ year low - from a 6.25 percent earlier.
The Governor said that with inflation expected to rise, the MPC made a decision to maintain its neutral policy stance.
It can be noted that even after the introduction of the MCLR and rate cuts that happened, the RBI has been repeatedly complaining about banks not doing enough to pass on the full benefit of its rate actions to the borrowers and help revive the sagging private investment for economic growth. Chandrajit Banerjee, Director General, CII said, "CII feels that a steeper cut in interest rate would have been more in consonance with market realities". Yes Bank MD and CEO Rana Kapoor said: "India's inflation has undergone a structural shift, with the emergence of "new normal" at lower levels". A rate cut at this moment will boost these sentiments further where footfalls and conversions are bound to increase. Also the rollout of the GST has been smooth and the monsoon normal. The RBI may lower them but the various banks are in no position to transmit these rates as they are burdened by huge non-performing loan portfolios.
After a 25 bp cut in October, the RBI has kept rates at 6.25 percent and shocked markets by changing its stance to "neutral" from "accommodative" in February.
The Boston Red Sox have historically been a collection of sluggers with one ace and a "pray for rain" type of rotation after that. That's when Cleveland got to Sale again - as Edwin Encarnacion took advantage of Fenway's short porch for a two-run homer.
Republicans remain the president's strongest backers, with 76 percent approving and only 17 percent disapproving. Democrats hold a whopping 61 percent disapproval rating among these voters, with only 32 percent approving.
It reiterated China's stand that its government "will take all necessary measures" to safeguard its rights and interests. China also indicated that the two sides are in touch to resolve the dispute in the Sikkim sector of the border.
Keita scored eight goals in 31 appearances last season to help Leipzig qualify for the Champions League for the first time. Rangnick said: "It does not matter at all whether it's 75million or 100million euros". " That would make no sense ".
Wray, a former Assistant Attorney General in charge of the Justice Department's Criminal Divison, had received the Edmund J. The Bureau is subordinate to the Ministry of Justice and one of its key functions is counterintelligence.
Pakistan today elected Shahid Khaqan Abbasi as its new interim prime minister after he bagged 221 votes, reported the Dawn. He praised Mr Sharif's leadership and principles and criticised the Opposition for accusing him of corruption.
US profits for the second quarter have been strong, with earnings growth now at 11.4 percent, according to Thomson Reuters data. The broad-based S&P 500 lost a hair at 2,475.87, while the tech-rich Nasdaq Composite Index advanced 0.2 percent to 6,375.13.
After all, a matchup between Cena and WWE Champion Jinder Mahal at SummerSlam seemed like a foregone conclusion a few weeks ago. Seemingly blinded, the referee still counted to three and declared Styles the victor despite Owens having his shoulder up.
"Stop Sulking and Debating" Nitish told Sharad Yadav
Critics of Sharad Yadav had attributed his silence on the alliance with the BJP to angling for a cabinet berth at the Centre. After meeting Sharad Yadav , JD (U ) leader Ali Anwar said, "We are not being rebellious, by meeting Sharad Yadav".